U.S. lenders aim to seize shale assets to avoid losses on loans

Monday, 04 May 2020

Debt financiers of U.S. fracking firms are preparing to directly manage distressed energy assets to avoid debt write-offs in the event of bankruptcies. Bank of America, Citigroup, JP Morgan Chase and Wells Bank are understood to set up holding companies for distressed oil and gas producers as the industry owes over $200 billion to lenders.

Subscriber content

This content is available only to subscribers
please log in below or subscribe now / request a free trial